Fees & Charges
At Nova Direct we want to provide all our customers with complete transparency around the fees and charges we make for certain policy actions. This document forms part of your policies Terms & Conditions, which is linked to during your policy purchase. In addition, if you opt to pay your annual premium on a monthly basis, taking out Premium Credit to do so, you are also bound by the Finance Terms. With the exception of Premium Finance Fees we require that all fees and charges are paid prior to the request being actioned.
Last Update : July 2023
CANCELLATION
Annual policies
If you choose to cancel your policy here are fees and charges that are applied and are charged regardless of the time on cover. A full refund of the premium will be given to policies cancelled within 14 days, providing no claim has been made (regardless of outcome). No refund is due, pro-rota or otherwise, if cancellation is requested 14 days or more after the policy purchase date. If you’ve opted to pay your annual premium on a monthly, taking out Premium Finance to do so, and you request cancellation 14 days or more from the date of purchase then you will be required to pay all outstanding Premium Finance amounts prior to completion of cancellation.
| Within 14 days of purchase | Administration Fee | £9.98 |
| After 14 days of purchase | £4.99 processing fee + £4.99 contract cancellation fee | £9.98 |
Short Term Policies (30 days or less in length)
If you choose to cancel your policy here are fees and charges that are applied and are charged regardless of the time on cover. A refund of the premium, minus time on cover, will be given to policies cancelled within 14 days. For example, a policy that costs £10.00 for 5 days cover and is cancelled 2 days after purchase, would result in a £6.00 refund, after the deduction of £4.00 for 2 days cover. No refund is due, pro-rota or otherwise, if cancellation is requested 14 days or more after the policy purchase date.
| Within 14 days of purchase | Administration Fee | £9.98 |
| After 14 days of purchase | £4.99 processing fee + £4.99 contract cancellation fee | £9.98 |
RENEWAL
All policies
Payment for renewal of a policy is attempted up to 7 days prior to the current policies expiry date, to ensure continuation of cover. If you choose to cancel your renewed policy a charge may apply, please see below. No refunds will be given on renewed policies if a claim is pending or has been made, regardless of outcome. Opting out of renewal prior to policy start date is free of charge.
| Prior to the policy start date | Administration Fee | £0.00 |
| After the policy start date | Administration Fee | £9.98 |
Short Term Policies (30 days or less in length)
These policy types are not automatically renewing.
MID-TERM ADJUSTMENT
If you wish to make a change to a policy here are the fees and charges that will apply. Mid-term adjustments include, but not exclusively limited to, change of vehicle, driver, device and address.
| Mid-Term Adjustment | Administration Fee | £4.99 |
PREMIUM FINANCE FEES
If you choose to pay your annual premium on premium finance, provided by Nova Premium Finance Ltd, then the following fees and charges will apply.
| Late Payment Fee | Penalty Fee | £4.99 |
DOCUMENT FEES
All policy documentation is delivered, by email and completely free of charge, after purchase. You can opt to have your documents posted to you at the cost detailed below. Please note this charge is not refundable.
| Postal Documents | No charge |